COSO ERM

Question 1

ERM Definition

Answer 1

Enterprise risk management is a process effected by entities Board of Directors, management, and other personnel, applied in strategy setting and across the enterprise, designed to identify potential events that may affect the entity, and manage risk to be with in its risk appetite, to provide reasonable assurance regarding the cheap meant of entity objectives

Question 2

responsibilities of senior management and ERM

Answer 2

zset the tone at the top

Question 3

board of Directors role in

Answer 3

oversight

Question 4

ERM capabilities

Answer 4

reject objectives reach objectives
Prevent loss of reputation resources
Report effectively
Comply with laws and regulations

Question 5

capabilities of ERM

Answer 5

consideration of risk appetite
Risk response decisions
Reduction of operational surprises and losses
multiple and cross enterprise Bris I guess recognize
Response to opportunities
Deployment of capital

Question 6

ERM for responses to risk

Answer 6

avoidance
Reduction
Sherry
Acceptance

Question 7

COSO ENTERPRISE RISK MANAGEMENT - Integrated Framework

Answer 7

Extends the COSO Model to the broader area of enterprise risk

it is a basis for coordinating and integrating all of an entities risk management activities